Medicaid In New Jersey

By Fredrick P. Niemann
fniemann@scarincihollenbeck.com

Medicaid is a benefits program which is primarily funded by the federal government and administered by each state. Sometimes the rules can vary from state to state. One primary benefit of Medicaid is that, unlike Medicare (which only pays for skilled nursing), the Medicaid program will pay for long term care in a nursing home once you’ve qualified.

Medicaid in New Jersey will pay for assisted living and homebased care under medicaid waiver programs and other New Jersey state programs.

Costs for asssisted living run 4-7,500 per month.

You need to demonstrate the need for nursing home care ( not being able to manage in a home environment, requiring assistance with activity of daily living skills for more than 2.5 hours per day) and you need to meet the strict financial requirements established by the state.

Why Seek Advice for Medicaid?

As life expectancies and long term care costs continue to rise, the challenge quickly becomes how to pay for these services. Many people cannot afford to pay $7,500 to $11,000 per month or more for the cost of a nursing home, and those who can pay for a while may find their life savings wiped out in a matter of months, rather than years.

Fortunately, the NJ Medicaid Program is there to help. In fact, in our lifetime, Medicaid has become the long term care insurance of the middle class. But the eligibility to receive Medicaid benefits requires that you pass certain tests on the amount of income and assets that you have.

The reason for Medicaid planning is that without the proper planning and advice, many people spend more than should or are required to, or they transfer finances inappropriately and are faced with months of ineligibility, jeopardizing their family’s financial security.In many cases homes and resources may be maintained if done properly and within the appropriate timeframes and guidelines.

Consultation with the right elder care law professional may save you a significant amount of financial resources and time when applying for Medicaid or when faced with the costs of long term care either now or in the near future.

To speak to a caring, sensitive attorney, ask for our managing partner, Fredrick P. Niemann, at 732-863-9900 or e-mail him at fniemann@scarincihollenbeck.com to set up an office consultation at your convenience.

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